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976

Went ahead and applied with FedChoice last night. I didn’t get instant approval, which I’m thinking might be because the address on my DL doesn’t match my application. Got a message from the membership side that said to upload a lease/bill etc to prove residency at the address on application. I belive I read somewhere on here that the loan won’t approve until membership does?

After a couple of phone calls, I got through to the ‘C’ rep mentioned on here and she said it hasn’t been reviewed or assigned a loan officer and they’re taking 2-3 business days right now. Hoping they review and get me locked in by 10/31 before the floor increase.

977

Good luck dealing with her, I’m shocked she still has a job she shouldn’t.

978

Look at the unions for new, I’m too lazy to add a used sheet till I get covid and forced bed rest again

1 Like
979

Nope, I got my auto loan application approved before my membership was. And they’ll lock your rate in at loan approval if you ask nicely.

980

Most of the rates I saw required your to be an employee or a company.

981

Which company did you use?

982

FedChoice FCU

983

Yep, took about 3 business days to get my approval. They told me they are so backed up right now. Which makes sense given the scarcity of auto loans at that rate.

984

Definitely makes sense. I’m really in no rush, other than to get rate locked in. I wish they were like some other lenders and locked you based on rates the date of application. I don’t need my actual loan funded until first week of December when I pick up my new car from the PCD

985

I included plenty of workarounds,

New Mexico Interior FCU is offering 3.25 for up to 60, and 3.3% for up to 72. You have to join a wildlife foundation.

1 Like
986

Woke up this AM to ‘instant approval’ of the loan application I submitted Wednesday evening. Can’t find anywhere about the loan details such as the rate etc. Tried to call in my already waited a while and it popped up with 7 callers ahead of me. Yikes.

987

Any recommendations for a CU/Bank for a lease buyout in New York City? Specifically zip code 10314

Thanks

988

LH tells me not to repost Hershey’s link… but it’s at the top of this thread.

989

which number are you calling? If there is 7 callers, they won’t pick up.

check if you meet the criteria for MCU.

1 Like
990

I’m based in Miami, FL, and am planning on going to Volvo on the 31st of this month to potentially buy a new car. I want to be able to pull the trigger on the spot. Any recommendation on which credit union has the best rates and can offer instant approval, or should I apply to one now so I can potentially get approved by Monday?

991

If captive is giving a better APR at lower term, but outside banks are doing a 0.8-1% increase at a longer term, whats the better option?

Overall cost delta is about $1200-1500 favorable to the captive, and of course easier transaction.
Monthly of course will look better with the longer term.

992

I ended up calling back and going with the membership option and asked about the pending membership - they had me do some identity verification questions that was holding up my membership app. She also was able to look at my auto loan & see I was approved at 2.74%

2 Likes
993

Apply for the one everybody is using. FedChoice. Apply now to get approved and call on Monday to get it processed, or rate locked.

994

It depends on what your objective is (lower cost vs. smaller payment).

You’ve already identified and quantified the trade-off.

995

What are you their spokesperson now?